In July, a total of 13 of 15 members of the ruling AIBA Executive Committee opposed Wu at a meeting in Moscow before setting up a rival Interim Management Committee (IMC) in an attempt to bring about his removal.

The IMC then tried unsuccessfully to remove executive director William Louis-Marie, appointed to the role following last year's Olympic Games in Rio de Janeiro, "with immediate effect, for the sake of AIBA and its members".

In a statement released today AIBA said: "The Court rejected all of the IMC’s claims in full, rendering the requests made by them in Moscow in July of this year as invalid.

"The Court decision upholds the position of AIBA President Dr Ching-Kuo Wu and executive director Mr William Louis-Marie to validly represent AIBA and to continue to work in the best interests of boxing in accordance with AIBA statutes and bylaws."

Wu said AIBA has "remained unified and confident that the Swiss Court would recognise the core values of integrity and transparency that the Association hold most important and that we stand for".

"We have always been single-minded in our determination to continue working alongside and representing our 202 National Federations and the best interests of our sport, carrying out our long-term strategic vision for its ongoing growth and success with a united family," the Taiwanese added.

"This we are now able to do without the unwelcome interference of the so-called IMC, whose legitimacy AIBA never recognised and has now formally been deemed illegal by the Swiss Court decision rendered today."

A statement released today by the IMC's newly hired London-based consultancy PR firm Calacus claimed it respected the Court's decision, which "provides clarity for the operations of AIBA headquarters for the next few weeks".

The IMC claimed that an AIBA Extraordinary Executive Committee meeting will now take place on Friday (September 29) in Lausanne before an Extraordinary Congress in Dubai on November 12.

There was no official confirmation from AIBA that either meeting would take place.

insidethegames understands that Wu plans to hold the Extraordinary Congress in Lausanne next month, where the row will be resolved.

Last month, Wu said he has no reason to respond to letters sent to him by the IMC, which had requested copies of a series of loan and investment agreements by September 1 at the latest.

Among them was the loan agreement with Azerbaijani company Benkons MMC, which is reportedly owed $10 million (£7.7 million/€8.4 million) by AIBA.

They were also asking for a copy of the investment agreement with Boxing Marketing Arm (BMA), set up to promote and sell rights for all AIBA products.

Chinese businessman Wu Di, owner of the firm First Commitment International Trade Company (FCIT), invested CHF19 million (£15.4 million/$19.9 million/€16.6 million) into BMA but filed paperwork on May 31 requesting that his money be returned.

In May, AIBA signed an exclusive global marketing agreement with Alisports, the sport division of Chinese e-commerce giants Alibaba, leading to BMA being closed.

AIBA claim this decision was taken by the BMA Board, including Wu Di.

The IMC also asked for the investment agreement with FCIT in BMA and the agreement with Alisports.

AIBA claimed it will now continue to focus on delivering its next major international event, which is the 2017 Women’s Junior and Youth World Championships in Indian city Guwahati from November 19 to 26, to the highest level.

Insidethegames

Last Modified on 26/09/2017 07:57

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